Lithuanian economy grew by 0.4 percent on quarter in the three months to June 2021, easing sharply from an upwardly revised 2.2 percent expansion in the previous period, the preliminary estimate showed. Positive contributions came from manufacturing, construction, wholesale and retail trade. On a yearly basis, the GDP advanced 6.9 percent, the most since the third quarter 2011, following a 1.2 percent growth in the first quarter. source: Statistics Lithuania

GDP Growth Rate in Lithuania averaged 1.01 percent from 1995 until 2021, reaching an all time high of 6.10 percent in the third quarter of 2020 and a record low of -12.70 percent in the first quarter of 2009. This page provides - Lithuania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lithuania GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.

GDP Growth Rate in Lithuania is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 1.10 percent in 2022 and 1.00 percent in 2023, according to our econometric models.

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Lithuania GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 2.20 6.10 -12.70 1995 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-01 07:00 AM QoQ 2nd Est Q4 -0.2% 3.8% 1.2%
2021-04-30 06:00 AM QoQ Flash Q1 1.8% -0.2% -0.6%
2021-06-01 06:00 AM QoQ 2nd Est Q1 2.0% -0.3% 1.8%
2021-07-30 06:00 AM QoQ Flash Q2 0.4% 2.2% -0.3%
2021-08-31 06:00 AM QoQ 2nd Est Q2 2.2% 0.4%
2021-10-29 07:00 AM QoQ Flash Q3 1.2%
2021-12-01 07:00 AM QoQ 2nd Est Q3


News Stream
Lithuania GDP Growth Eases to 0.4% in Q2
Lithuanian economy grew by 0.4 percent on quarter in the three months to June 2021, easing sharply from an upwardly revised 2.2 percent expansion in the previous period, the preliminary estimate showed. Positive contributions came from manufacturing, construction, wholesale and retail trade. On a yearly basis, the GDP advanced 6.9 percent, the most since the third quarter 2011, following a 1.2 percent growth in the first quarter.
2021-07-30
Lithuania Q1 GDP Growth Revised Up to 2%
Lithuanian GDP advanced 2.0% on quarter in the three months to March 2021, higher than an earlier estimate of 1.8% expansion, rebounding from an upwardly revised 0.3% contraction in the previous period. Increases were reported in real estate activities (2.7% vs -0.1%), information and communication (2.2% vs 2.3%), manufacturing (3.3% vs 1.9%), wholesale and retail trade, transport, accommodation and food service activities (4.6% vs 0.5%) and professional, scientific and technical activities, administrative and support service activities (7.0% vs 1.9%).By contrast, output shrank mainly for construction (-1.9% vs 1.8%) and arts, entertainment and recreation activities, repair of household goods and other services (-3.2% vs -12.7%). On a yearly basis, the GDP expanded by 1.2%, faster than an earlier estimate of 1.1% growth, recovering from an upwardly revised 1.2% decline in the fourth quarter 2020.
2021-06-01
Lithuania Economy Rebounds in Q1
Lithuanian economy expanded by 1.8 percent on quarter in the three months to March 2021, rebounding from a 0.2 percent decline in the previous period, the preliminary estimate showed. Positive contributions came from wholesale and retail trade, industry, transport, information and communication, and real estate. On a yearly basis, the GDP grew 1.0 percent, reversing from a 1.0 percent contraction in the fourth quarter 2020.
2021-04-30
Lithuania Economy Shrinks 0.2% in Q4
Lithuanian economy shrank 0.2 percent on quarter in the three months to December 2020, reversing from an earlier estimate of 1.2 percent expansion and after a 3.8 percent growth in the previous period. Decreases were reported in agriculture, forestry and fishing (-1.8% vs 1.4% in Q3), real estate activities (-0.7% vs 0%), public administration and defense; education, human health and social work activities (-0.4% vs 1.7%), arts, entertainment and recreation activities, repair of household goods and other services (-12.4% vs 8.6%). By contrast, output expanded for information and communication (2.3% vs 4.4%) ), construction (1.9% vs 3.0%), and professional, scientific and technical activities, administrative and support service activities (3.5% vs 4.0%). On a yearly basis, the GDP shrank by 1.0 percent, reversing from a 0.1 percent expansion in the third quarter 2020. In 2020 as a whole, the economy shrank by 0.8 percent.
2021-03-01

Lithuania GDP Growth Rate
In 2015, Lithuania became the 19th member of Euro Area. Lithuania’s service sector constitutes the largest share of GDP with information and communication technologies being the fastest growing. Also, in recent years Lithuania has shifted towards a knowledge-based economy: several companies produce sophisticated biotech products like pharmaceutical substances, components for molecular diagnostics and laser equipment. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Exports of goods and services account for 81 percent while imports account for 79 percent, adding 2 percent of total GDP. On a production side, the wholesale and retail trade, transport, accommodation and food service activities sector is the most important and accounts for around 32 percent to total GDP. It follows by industry (23 percent of total GDP); manufacturing (19 percent); public administration, defence, education, human health and social work activities (14 percent); construction (7 percent); real estate activities (6 percent); professional, scientific and technical activities and administrative and support services (6 percent); information and communication (3 percent); agriculture (4 percent); financial and insurance (2 percent); and arts, entertainment and recreation, repair of household goods and other services (2 percent).